Loan Program FAQs: Do I Qualify?

• If you filed for bankruptcy, either business and or personal at any time in the past, you do not qualify for our programs which offer loans up to $100,000.
• However, if the bankruptcy was more than five (5) years ago, you may be considered for one of our conventional loan programs.

• If the tax lien was filed within the last three (3) years, you do not qualify for our Microloan Program which offers loans up to $100,000.
• However, you may be considered for a conventional BCF Loan if the lien has been dispositioned – paid or with a current payment plan in place.

• For loans up to $75,000, a minimum credit score of 620 for all guarantors will be required.
• For all loans over $75,000, a minimum credit score of 650 will be required.
• Scores lower than 650 will be considered on a case-by-case basis.

• Yes, your business must be MBE-certified by either the National Minority Supplier Development Council (NMSDC) or a state agency, or be active in the federal government’s SBA 8(a) program to qualify for special pricing and microloans up to $100,000.
• For loans over $100,000, you do not need to be MBE certified, but will have to meet the minimum SBA standards for a disadvantaged business.

Click here to review the questions from our prequalification questionnaire.  Once this is successfully completed, you will be invited to apply to our loan program.